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More Downside In US Stocks Likely

Thursday's reaction low taken out in SPY & QQQ today, increasing the chances that my price target will be hit (another ~2% downside at minimum as additional target might be added). Also note that the 60-minute trend indicators now bearish on both SPY as well as QQQ. With the Nasdaq 100 poised to fall, the semiconductor sector will most likely provide an even more lucrative shorting opportunity, quite likely falling as much as 9% in the coming weeks by my estimates (charts soon as that might be added as an official trade).

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2018-01-21T22:29:16+00:00Nov 15, 2017 9:54am|Categories: Equity Market Analysis|Tags: , , , , , , |1 Comment

One Comment

  1. david k November 15, 2017 10:21 am at 10:21 am

    Randy, you looking for a backtest of 2566 in spx to add to short?

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